Disney says the Abu Dhabi park is going ahead. The company reaffirmed its commitment to the project during its Q3 FY26 analyst session, directly addressing speculation that ongoing conflict in the Middle East could put the development at risk.
“We continue to believe in the strategic rationale behind the project, and we are fully committed to seeing that project through,” CFO Hugh Johnston said.
Here’s the full context of the Disney Abu Dhabi park commitment and what else came out of the session.
Quick Summary
- Disney reaffirmed full commitment to the Abu Dhabi theme park project
- CFO Hugh Johnston said the project is designed with a long-term view
- The comments came during Disney’s Q3 FY26 Analyst Q&A
- Miral is fully funding and developing the resort; Disney leads creative design
- It’s Disney’s seventh theme park destination and first in the Middle East
- No construction or opening timeline has been released
The Question and the Answer
The comments came during Disney’s Q3 FY26 Analyst Q&A, held as part of the company’s Q3 FY26 Earnings Results Webcast. The session was hosted by Ben Swinburne, Executive Vice President of Investor Relations and Corporate Strategy, alongside CEO Josh D’Amaro and CFO Hugh Johnston.
Barton Crockett of Rosenblatt Securities asked how fuel cost volatility and Middle East conflict are affecting Disney, including any impact on park attendance, margins, and the Abu Dhabi development.
Johnston answered directly.
On the Abu Dhabi park, he said the project is being designed with a long-term view, pointing out these are multi-year builds that, once complete, operate for decades.
“We continue to believe in the strategic rationale behind the project, and we are fully committed to seeing that project through,” Johnston said.
That statement directly addresses recent speculation that regional conflict could lead Disney to scale back or cancel the park. Based on these comments, that isn’t the case.
Strong Demand Across Parks and Cruises
Johnston said demand remains strong across domestic parks and cruises, and forward bookings at Walt Disney World are up. Cruise line bookings also look healthy going forward. Consumer products had a strong quarter driven by IP strength.
He noted one soft spot: a weaker consumer at Shanghai Disneyland and Hong Kong Disneyland in Q3, a trend continuing into Q4. Disney’s global portfolio is helping offset that softness.
The company now expects its Experiences segment to hit the high end of its previously guided high single-digit operating income growth for the fiscal year, excluding the 53rd week.
Background: Disney Abu Dhabi
Disney announced the Abu Dhabi park in May 2025, in partnership with Miral, the developer behind many of Yas Island’s attractions. It’s Disney’s seventh theme park destination and its first in the Middle East.
The financial structure is the important detail here.
Miral is fully funding and developing the resort. Disney is leading the creative design and providing operational guidance through Imagineering. Miral will operate the finished park.
That arrangement changes how you should read the commitment question entirely.
Disney isn’t spending its own capital on construction. It’s contributing creative and operational expertise in exchange for licensing revenue. The financial exposure that would normally make a company reconsider a project during regional instability largely sits with Miral, not Disney.
That’s not to say the commitment is meaningless — Imagineering resources are finite and reputationally Disney is fully attached. But “fully committed” is a considerably easier position to hold when someone else is writing the construction checks.
What the Resort Will Include
The resort sits on the Yas Island waterfront and will include a theme park, resort hotels, dining, shopping, and entertainment tied to both Disney storytelling and Emirati culture.
Bob Iger, Disney’s CEO at the time of the announcement, called the location a natural fit given the region’s cultural ties to arts and creativity.
Josh D’Amaro, now Disney’s CEO, described it as the company’s most advanced and interactive resort, pointing to the waterfront setting as a chance to tell stories in new ways.
Disney has not released a construction or opening timeline.
That absence is worth noting. More than a year after announcement, no timeline exists publicly — which is either normal for a project this early or a signal about pace, depending on how you read it.
Limited Fuel and Tariff Impact
Johnston also addressed fuel and tariff costs.
Disney’s hedging program and fuel efficiency initiatives at the cruise line mean fluctuating oil prices have had little effect on the company this year.
On tariffs, Disney Experiences received about $100 million in tariff refunds this quarter, which boosted segment operating income without affecting revenue.
Johnston expects a smaller benefit in Q4, if any, since the related tariff costs hit in the first half of FY26. He said the full-year impact will net to close to nothing.
That last point deserves emphasis given how the tariff refund inflated the quarter’s operating income growth. Across the full fiscal year, it washes out.
What to Watch
For anyone tracking this project:
- A construction timeline announcement would be the first real signal of pace
- Concept art releases typically precede construction start
- Miral’s own investor communications may reveal more than Disney’s, since Miral carries the financing
- Imagineering hiring and resource allocation toward the project
The Bottom Line
The Disney Abu Dhabi park commitment was reaffirmed at the Q3 FY26 analyst session, with CFO Hugh Johnston saying the company continues to believe in the strategic rationale and is fully committed to seeing it through despite regional conflict concerns.
Miral is fully funding and developing the resort on Yas Island, with Disney leading creative design through Imagineering and Miral operating the finished park.
No construction or opening timeline has been released. Watch for that announcement — it’s the next meaningful marker.